Friday, 12 March 2021 16:58

Hospitality Businesses Urged to Apply for Grants

(via Rosemary Brown)

Restaurants and other hospitality-related businesses in our region will soon be able to apply for financial assistance through the COVID-19 Hospitality Industry Recovery Program.

Established under Act 1 of 2021, the program allocates $145 million in funding assistance statewide to hospitality industry businesses adversely affected by the pandemic. Businesses can find more information and an application by clicking their respective county below.

Monroe County

Pike County

To be eligible for funding, the applicant must be a for-profit business that meets the following qualifications outlined in the law:

• Is not publicly traded.
• Experienced a reduction in revenue of at least 25% in relevant portions of calendar year 2020.
• Operates a place of business within the Commonwealth within the Accommodation Industry (NAICS 721) or Food Services and Drinking Places (NAICS 722) and where accommodations, food or drink are served to the public.
• Has fewer than 300 full-time-equivalent employees.
• Has a maximum tangible net worth of not more than $15 million, as computed in accordance with generally accepted accounting principles.

Funding is limited and will be provided on a first-come, first-served basis. Grants will be awarded in increments of $5,000 up to a maximum of $50,000.